Cote Import has several bond issues outstanding, each making semiannual interest payments. The bonds are listed in the following table. Bond 1 2 Coupon Rate 6.50 % 8.00 7.70 7.30 Price Quote 103.36 110.68 110.03 102.93 Maturity 5 years 8 years 15.5 years 25 years Face Value $ 45,000,000 40,000,000 50,000,000 65,000,000 3 4 If the corporate tax rate is 34%, what is the after-tax cost of the company's debt? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Cost of debt 4.29%